Potential market

Australia considered a highly-potential market for local firmsTam An Vietnamese consumers have shown a high demand for products imported from Australia, including beef - PHOTO: TL HCMC – Vietnamese consumers have shown a high demand for products imported from Australia, but domestic businesses have yet to fully exploit the potential of this market, according to a speaker heard during a seminar on Vietnam-Australia trade held on Monday. At the seminar, jointly held by Tien Thinh International Migration and Investment Consulting Co Ltd and the Vietnam Chamber of Commerce and Industry (VCCI), Gary Dawes, a trade promotion senior consultant and representative of the Business Council of Australia, said there exists an imbalance in bilateral trade between the two countries. Accordingly, Vietnam currently ranks 13th among Australia’s 15 largest importers, but is not listed as one of the 15 countries exporting the largest volume of goods to Australia. Under the … [Read more...] about Australia considered a highly-potential market for local firms

At a recent conference jointly held in Hanoi by Vietnam Textile and Apparel Association (VITAS) and IEC Group-Australia that sought ways to boost exports of Vietnamese apparels to Australia, an official from the Ministry of Industry and Trade of Vietnam has said that Australia is a potential market for Vietnamese textiles with the introduction of CPTPP. At the seminar - Photo: tapchicongthuong "The market share of Vietnam’s garment in this market is modest but still has room to expand,” according to deputy head of the Asia- Africa Market Department of the Ministry of Industry and Trade Nguyen Phuc Nam. Meanwhile, the basic import tax rate for garment products usually ranges from five to 10 percent. Import turnover of textile and garment products of Australia grew from three to five percent per year in the last five years, it was heard. Currently, Australia has shifted to import and outsource in Vietnam due to cheaper labor compared with China, … [Read more...] about Australia potential market for Vietnamese textiles

(VEN) - Overseas Vietnamese trade offices have significantly contributed to paving the way for Vietnamese goods to potential discerning markets. Deputy Minister of Industry and Trade Tran Quoc Khanh praised their initiative in collecting updated information about the markets, as well as economic, trade and investment policies of foreign countries. Vietnamese trade counselors abroad met in Hanoi on February 7 Overcoming hurdles Australia is one of the markets that have seen impressive growth of Vietnamese exports. Nguyen Thi Hoang Thuy, Vietnamese Deputy Consul-General and Head of the Vietnamese Trade Office in Australia, said Australia is a market of great potential that applies no import quotas and its import taxes on most kinds of goods range from 0-5 percent. However, this market has strict requirements for imported goods, especially in terms of food safety and animal quarantine. “Despite difficulties, trade between Vietnam and Australia reached … [Read more...] about Vietnamese trade offices pave way to potential markets

Cuban officials answers participants' questions at the seminar on February 5 (Photo: VNA)HCM City (VNA) – A seminar was held in Ho ChiMinh City on February 5, introducing Cuba as a potential market, in terms ofboth trade and investment, for Vietnamese businesses.Pham Thiet Hoa, Director of the Ho Chi Minh CityInvestment and Trade Promotion Centre, said Vietnam and Cuba boast soundtraditional relations along with expanding economic and trade ties. Vietnam isnow one of the 10 biggest trade partners of Cuba and also the second largestAsian trade partner of the Latin American nation.However, bilateral trade remains modest comparedto the two countries’ demand and potential, he noted, elaborating thatVietnam’s exports to Cuba are estimated at 240 million USD per year, accountingfor only 3.5 percent of Cuba’s total annual trade – nearly 7 billion USD.Hence, there remains much room for Vietnamese firms to invest in and trade withCuba.Hoa noted Cuba has big demand … [Read more...] about Cuba promoted as potential market for Vietnamese firms

Morocco has become a new potential market for Vietnam as bilateral trade between the two countries reached 156.3 million USD last year, with the annual growth rate pegged at 54 percent.
During the year of 2014, Vietnam's exports to Morocco posted a 48 percent year-on-year growth to 148 million USD. Morocco is one of the 10 largest African importers to Vietnam.
The country mainly ships telephones and components, coffee, seafood, computers, electronics and components, garments, fibre, footwear, fishing nets, chemicals and pepper to Morocco.
Its imports remain modest, reaching just 8.7 million USD, resulting in a trade surplus of 139.3 million USD. The imported products from Morocco are computers, pharmaceuticals, DAP fertiliser, and raw material for the garment and footwear industry.
Deputy Minister of Trade and Industry, Tran Tuan Anh, said Morocco has an important geographical location as a gateway for Vietnamese businesses to penetrate into the North African market.
In addition, … [Read more...] about Bản in : Vietnam eyes Morocco as new potential market